DGAP-News KROMI publishes half-yearly report 2020/2021
DGAP-News: KROMI Logistik AG / Key word(s): Half Year Results
KROMI publishes half-yearly report 2020/2021
- Positive operating result (EBIT) in challenging environment
- Revenues around 5% below prior-year level, but reference period July to December 2019 unaffected by impact of Corona pandemic
- Further improvement in cost structures and working capital by strengthening optimization measures initiated in the past fiscal year
- Contract with major international customer for four European sites extended indefinitely, two new contracts signed in Brazil
Hamburg, February 26, 2021 - KROMI Logistik AG today published its half-year report for fiscal year 2020/2021 (July 1, 2020 to December 31, 2020). Despite a market environment that continues to
be dominated by the effects of the Corona pandemic, and the weaker first half of the year as a result of the lower number of working days, the first six months of fiscal year 2020/2021 were overall
better for KROMI than originally expected. As a result, the company managed recording positive operating earnings (EBIT) of EUR 0.2 million (previous year: EUR -0.4 million), although revenues of
around EUR 35.2 million were down roughly 5 % compared to the same period of the previous year (previous year: EUR 37.1 million). However, the reference period July to December 2019 was not
affected by the Corona pandemic.
"The business situation has increasingly improved in the first six months of the current fiscal year, after production levels in KROMI's target industries were massively cut back as part of the initial lockdown. This development is also reflected in the figures for the first half of the year," commented Bernd Paulini, CEO of KROMI. CFO Christian Auth also gives a positive assessment of the first half of 2020/2021: "The optimization measures already introduced in the past fiscal year are showing a sustained effect, which is now evident in the phase of ramping up operating activities, both in terms of an improved cost structure and in the area of working capital."